Frequently Asked Questions (FAQs)​

This FAQ is for summary purposes only. All terms and conditions of the MBS Program are in the applicable Guaranty Agreement and the Guide. Where there is any inconsistency between this FAQ and the applicable Guaranty Agreement or the Guide, the provisions of the applicable Guaranty Agreement or the Guide will govern.

Please visit our website, www.ginniemae.gov, and go to “Doing Business with Ginnie Mae,” “Industry Specialists,” and “Document Custodians.” Here you will find valuable information relating to document custodians. For example, the Document Custodian landing page states that while an Issuer may use different document custodians for different pools or loan packages, each pool or loan package must have only one document custodian.

For all questions relating to document custodians, please send an e-mail to GinnieMaeDocCustody@HUD.gov. A representative from our Office of Issuer & Portfolio Management should be able to assist you further.

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Last Updated: 5/9/2013

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I had a loan with Taylor, Bean and Whitaker and they are closed. Who owns my loan now?

If your TBW loan was insured by the Federal Housing Administration, Veterans Administration or USDA’s Rural Development, it was likely securitized by Ginnie Mae. This means that Ginnie Mae legally “owns” your loan; however, only the servicer can make servicing decisions regarding your loan. If your TBW loan was included in a Ginnie Mae security, Ginnie Mae's master sub-servicer, Bank of America, has taken over the servicing of those loans.

Ginnie Mae does not make any servicing determinations in connection with borrowers’ loans. The reason is when the security is issued, the Issuer conveys all right, title, and interest in the loans backing the securities to Ginnie Mae so that in the event that Ginnie Mae must honor its guaranty to the investors, it will immediately have the right to the mortgage payments. Ginnie Mae permits the Issuer to hold legal title and service the loans on its own behalf so long as the Issuer is in good standing with Ginnie Mae.

​​Loan-level data provides investors with mortgage-backed securities (MBS) information at the elementary level of the loans underlying the pools. Doing so results in data disclosures with greater specificity giving stakeholders the additional information related to performance of Ginnie Mae MBS.

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Last Updated: 8/16/2013

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Why is Ginnie Mae releasing loan-level data?

​​Ginnie Mae is releasing loan-level data to ensure alignment with industry standards and best practices in the disclosure of mortgage-backed securities (MBS) to investors. Loan-level data is critical to assessing the quality of many MBS by providing transparency and allowing investors to assess the performance characteristics of loans that had first been securitized into MBS.

Delinquency data will not be provided in the initial release. The initial release will provide loan-level data for newly issued single-family MBS and HMBS loans. Delinquency data will be provided in the monthly production files.